我国上市公司资本结构的评价模型

The valuation model of capital structure of China's list companies

最佳资本结构问题一直是财务理论研究中的热点问题 ,我国上市公司的资本结构大多不合理而又很难表现出来 ,因此建立资本结构评价模型更切合我国当前的实际需要。本文抽象出影响我国上市公司资本结构形成的九个因素 ,概括出 15个具体的指标 ,运用主成分分析法建立了我国上市公司资本结构评价模开动的一个雏形 ,并给出了一个大概的最佳资本结构区间。

The issue of optimal capital structure is a popular issue of research on finance theory.However,it is more suitable to our country to build the valuation model of capital structure according to the actual conditions of list companies of our country.This article extracts nine factors substituted by specific 15 indications,which have effects on capital structure of list companies of our country,and apply'factor analysis'to build a rudimental valuation model of capital structure of our country's list companies,and set a approximate scale of optimal capital structure.